Corporations are characterized by a wide range of shareholders, including private investors, who obtain information about the company and its performance from regular public financial statements. The CFO must take into account the interests of stakeholders and ensure a high degree of transparency and reliability of data.
In a startup, the circle of people with access kazakhstan whatsapp phone number to financial information is limited. The main stakeholders here are the founders, key employees and investors, who often have direct access to the company's management and its performance.
Skills
Although the main tasks of the CFO are similar regardless of the size of the company, the required skills and soft skills differ. Let's take a closer look at what abilities a CFO in a large company should have:
Strategic thinking. The most important skill for a corporation's CFO is the ability to see the company's long-term goals and develop financial strategies to achieve them. It is important not only to manage current financial processes, but also to be able to foresee future changes in the market. To make informed decisions today that will help the company get ahead tomorrow.
Personnel management. In corporations, the ability to delegate tasks and organize the work of many employees is especially important for CFOs. Managing large financial departments requires leadership skills and strategic thinking. Skills in working with large teams, the ability to coordinate the actions of various departments, manage large budgets, and control the execution of tasks are important.
In a startup, the CFO must have the following qualities and skills:
Willingness to get involved in the operational side. In small companies, CFOs often have to personally solve financial problems. This may include bookkeeping, development and implementation of business processes, as well as direct participation in financial planning and analysis. That is why the CFO must be able to roll up their sleeves and immerse themselves in solving operational problems. At the same time, it is important to quickly switch back to the level of tactics and strategy, keeping the focus on long-term goals.
Flexibility and adaptability. Due to the rapid changes and high level of uncertainty inherent in startups, the CFO must be adaptive and able to make decisions quickly with limited resources.